Common use of Acceptable Estimating System Clause in Contracts

Acceptable Estimating System. An estimating system is a system that includes policies, procedures, and practices for budgeting and planning controls, and generating estimates of costs and other data included in proposals submitted to customers in the expectation of receiving contract awards. An acceptable estimating system means an estimating system that is: 1. Maintained, reliable, and consistently applied 2. Produces, verifiable, supportable, documented, and timely cost estimates that are an acceptable basis for negotiation of fair and reasonable prices 3. Is consistent with and integrated with the Contractor’s related management systems

Acceptable Estimating System. An estimating system is a system that includes policies, procedures, and practices for budgeting and planning controls, and generating estimates of costs and other data included in proposals submitted to customers in the expectation of receiving contract awards. An acceptable estimating system means an estimating system that is: 1. Maintained, reliable, and consistently applied 2. Produces, verifiable, supportable, documented, and timely cost estimates that are an acceptable basis for negotiation of fair and reasonable prices 3. Is consistent with and integrated with the Contractor’s related management systems